Texas Businessman Refunding Ten Million Dollars to Customers Since Astros Won World Series

Congratulations to Houston Astros fans. Bigger congratulations to people that bought furniture from this guy.

Jim McIngvale is the owner of Houston's Gallery Furniture. He made a bet with his customers all the way back in May. If the Astros won the World Series and you bought at least $3,000 worth of furniture. You would get a complete refund. That is a big risk to take on both parts.

As a consumer, you could be getting free furniture. As a business owner, you're just giving away furniture if the Astros win. McIngvale says the rebates are a little over ten million dollars. Don't worry too much for McIngvale, he is still making money on this deal.

He said he paid an insurance premium of between 10 and 20 percent of the total value of what he had to pay out. In order to balance his risk out more, he placed some bets in Las Vegas on the Astros. Those bets, he said, totaled north of $1 million on the Astros to win the World Series. He is happy the Astros won and happy for the city of Houston as well.